April 14, 2019 / 11:02 AM / 7 months ago

Britain's Brewin Dolphin in talks to buy Investec's Irish wealth business

(Reuters) - British wealth manager Brewin Dolphin said on Sunday it is in talks to acquire Investec’s wealth management business in Ireland.

The company said in a statement following a newspaper report that the discussions were ongoing and there was no certainty that they would lead to a deal.

Britain’s Sunday Times reported that Brewin Dolphin is competing with Allied Irish Banks (AIB) to buy Investec’s private client stockbroking business, with a price tag of up to 60 million euros ($68 million).

London-based Rathbones is also interested in the business, the Sunday Times said. AIB and Rathbones declined to comment, while Investec did not respond to a request for comment.

Reporting by Akshay Balan in Bengaluru; Editing by Susan Fenton and Alexander Smith

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